Chapter 9 – External Assistance for Start-ups and Small Businesses

We had the privilege of working closely with a small business for about 9 months and the most valuable lessons that we learned were:  1. there is a plethora of resources, aid, and advice at the disposal of small business and start-up entrepreneurs who are will to invest the time to locate it. 2. Always be prepared to take advantage of the resources, aid, and advice -the only thing worse than wasting your own time is wasting other people’s time.  The Memphis Public Library in conjunction with TSBDC (Tennessee Small Business Development Center) hosts weekly open start-up assistance seminars on specific business topics such Company Structuring, Financing and Funding, Developing a Business Plan, etc.  This is how we met Mr. Mark Taylor with the Renaissance Business Center and was ultimately able to receive free counseling before incorporating in 2009.  Chapter 9 in our book conveniently provides a centralized location where we can reference many of SBA tidbits such as mailing information, sponsored programs, and eligibility requirements.  The company that I worked with for those 9 months was owned and operated by an African American woman.  As such, she was able to receive assistance from the SBA since her company qualified as both a woman-owned and minority-owned business.  Learning where to go, who to talk to, and what steps to take to receive assistance will hopefully pay off for us in the long run.